74 - What is a credit rating, how does it work?

If you’ve ever borrowed money to buy a car or applied for a credit card, you have a credit report. Your credit score is considered a measure of your financial health and financial trustworthiness. It is a key consideration for your future financial plans.vAre you familiar with how the credit reporting system works? Most of us know we should have a good score but don’t understand why or how we can improve it. Jillian Taylor-Mancusi, Licensed Insolvency Trustee talks about this somewhat mysterious system that judges our financial worthiness. Here are a few of the topics covered in this podcast:Why your credit score mattersThe difference between credit reports and credit scoresWho has access to your credit scoresConventional lenders and high risk lendersBest ways to build and rebuild your scoreWhat a hard hit and a soft hit is when checking your credit scoreIf you are having financial difficulties and need someone to give you solid advice, a Licensed Insolvency Trustee should be your first call. They are licensed and regulated by the Canadian government and adhere to strict ethical guidelines. About Jillian Taylor-MancusiJillian is a Licensed Insolvency Trustee in Manitoba and Northern Ontario. She has been working in the insolvency field since 1992. A member of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP), Jillian also serves as chair for Dressage Winnipeg.Additional Resources LCTaylor Licensed Insolvency TrusteeThe Truth About Your Credit Score in CanadaRebuilding Your Credit After Bankruptcy